SKP Resources posts better FY2022 results on higher efficiency

KUALA LUMPUR, May 27 (Bernama) -- SKP Resources Bhd posted a better net profit of RM169.83 million for the financial year ended March 31, 2022 (FY2022), up 27 per cent from RM133.24 million in the preceding year.

The electronics manufacturing services (EMS) provider said the improved earnings, as well as the increase in revenue to RM2.32 billion from RM2.25 billion previously, was due to its ability to reap the benefits from economies of scale and increased efficiency in the manufacturing process achieved over time.

In a filing with Bursa Malaysia, SKP Resources reported that its net profit for the fourth quarter of FY2022 jumped to RM51.19 million from RM35.61 million a year earlier, while revenue surged to RM576.85 million from RM412.98 million.

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The plastic product maker and mould fabricator said that despite the operational challenges such as disruption to supply chain and manpower constraint as well as the COVID-19 outbreak in China, the business sentiment of most of the group's customers remained positive.

It said the group was well-positioned in the EMS industry and continued to pursue opportunities to grow its market share from existing customers.

“Notwithstanding the current market conditions, the group continues to receive enquiries from both existing and potential new customers for new projects,” it said.

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Moving forward, SKP Resources said it anticipated higher capacity utilisation and improved production throughput in line with the group's customer guidance as well as increased revenue contribution from customers' orders in the coming quarters. 

-- BERNAMA